Gordon Pelosse, of the Forbes Human Resources Council, recently wrote of the alarming talent shortage trends employers are seeing currently and projecting into the rest of 2022. Several factors are impacting employers as they scramble to find skilled talent:
- Higher education failings
- Graduates with mismatched degrees for their fields
- A shift of power from employer to employee
- The growing difficulty of attracting and retaining talent
- The trend of offering unsustainable larger than usual salaries and signing bonuses
The “Great Resignation” also has played into the shortages across the board.
However, the tech sector has continued to remain fairly stable. Perosse comments about tech talent trends:
The demand for tech skills continues to rise most notably in technology and sciences, while a skills shortage could severely impede the growth of the U.S. market. According to a Korn Ferry study called Global Talent Crunch, the current talent shortage could create 85 million unfilled jobs and close to $8.5 trillion in unrealized revenues if unaddressed by 2030.
My company found that tech unemployment is on a steady decline, now below 2% on average and below 1% in many high-demand markets. With more demand for skilled workers, increasing competition for the very best, recruiters offering big incentives to move to greener fields, fewer new students—and even fewer grads—and the investment dollars needed for reskilling, could this be the beginning of a talent shortage perfect storm?
Technology, especially Information Technology (IT), continues to be uniquely situated to provide top talent in every industry. The global marketplace, as well as education and government, are all dependent on reliable and foward-looking IT systems and operations in order to be competitive. Employers may need to shift their demands away from on-site only hires and allow more flexibility and remote work, but technology professionals are available. It’s just a matter of knowing where to look.
One great advantage to working with an IT-specific recruiting firm is that recruiters are experienced in the myriad varieties of IT roles that today’s companies require. More than that, a firm that relies on decades-long relationships with CIOs, hiring managers, and tech company founders, can cut through the red tape and more rapidly bring qualified candidates to the table.
Core Technology Solutions has been successful at this for more than 30 years because we build long-term business relationships, both with our client companies and our client candidates. If you are looking to hire top talent in your IT group, give us a call and let us know how we can keep you competitive.